Celsius Holdings Inc. ($CELH) has experienced a significant decline in stock value, down approximately 70% since its all-time high in May. The stock is currently trading at 19 times EV/EBIT for 2025 estimates, largely due to inventory issues with its distribution partner, PepsiCo ($PEP). Despite this, the company has seen a resurgence, with shares rising 6% yesterday and an additional 3% after hours. Piper Sandler's latest Teen Survey indicates that Celsius continues to be a popular brand among teens, with a 15% share of mentions as a favorite energy drink. However, Jefferies has lowered its price target for Celsius from $53 to $48, citing slowing growth and increased promotions not driving volume acceleration. Jefferies also lowered its Q3 sales growth estimate to -31% and operating margin to 1.7%. The stock has also seen a recent surge, up 16% following positive commentary from Piper and Stifel, potentially driven by a short squeeze.